Skip links

Tax Notes Quotes Christopher Ferguson On Employee Retention Credits

Christopher M. Ferguson was quoted in a Tax Notes article titled “Employee Retention Credit Adviser Urges Court to Lift Moratorium,” on May 16th. The article discusses the potential implications of an injunction filed on May 14th with the U.S. District Court for the District of Arizona that could require the IRS to resume its processing of employee retention credit claims.

From the article:

In the article, Mr. Ferguson explains that some ERC advisers had stopped their activities because of the moratorium on processing claims and the narrow eligibility criteria being applied by the IRS under Notice 2020-21, going on to observe that “[t]he prospect that [Notice 2020-21] may be jettisoned will provide a lot of temptation for companies to get back in the game.”

“The floodgates could reopen, depending on how this case plays out” Mr. Ferguson notes, going on to state that the complaint raises valid claims.

Mr. Ferguson also remarks that the lawsuits may place pressure on Congress to act regarding pending, or other, ERC legislation to ease the strain on the IRS from the deluge of claims.

Click here to read the full article.